📈 Strong Price Breakout
XRP surged 10.72%, reaching $2.37, outperforming major cryptocurrencies. The price broke above $2.30 resistance, supported by a bullish pennant flag pattern. A move past $2.59 could pave the way for a rally toward $3.
📊 Rising MVRV Ratio Signals Confidence
XRP’s MVRV ratio hit 314.74%, historically linked to profit-taking phases. However, its sustained rise signals strong market confidence, with both short-term and long-term holders maintaining their positions.
👥 Network Activity Surges
Daily active addresses climbed to 26,144, reflecting growing adoption and network engagement. Increased participation highlights XRP’s rising utility and sustained investor interest.
📉 Technical Indicators Support Uptrend
The RSI remains above 58, indicating moderate bullish momentum. Additionally, a golden cross formed as the 9-day MA crossed above the 21-day MA, signaling further upward potential.
⚠️ Price-DAA Divergence Insight
Despite a -316.79% divergence between price and active addresses, broader market sentiment remains strong. This divergence is seen as a short-term caution rather than a threat to the ongoing uptrend.
Top comments (0)